Comment
Author: Admin | 2025-04-28
Reports page in Koinly and check out your tax summary.7. To download your crypto tax report, upgrade to a paid plan.Download what you need, when you need it, with plans starting from RS490.8. Send your report to your chartered accountantUse the generated file to complete your Income Tax Return or send it over to your accountant. Job done.Yes. The ITD uses KYC information provided by Indian exchanges, as well as the 1% TDS, to track your crypto holdings.The ITD can request crypto exchanges to share KYC (know your customer) data to ensure tax compliance. As well as this, the 1% TDS makes it much easier for the ITD to track each individual taxpayer's assets.The penalties for tax evasion in India - including evasion of TDS - are severe. Tax evasion is a criminal offense in India and the penalties range from steep fines to imprisonment depending on the severity.Your frequently asked questionsMore questions about cryptocurrencies in India? We have you covered.Is Bitcoin legal in India?What’s the cryptocurrency bill in India?Will I pay Income Tax on cryptocurrency?Is crypto trading legal in India?What’s the 30% tax on crypto and VDAs?Can I offset crypto losses against gains from crypto in India?What is the crypto TDS date?Can I claim crypto TDS?Is there a crypto tax calculator for India?Is India banning crypto?Which India crypto exchanges deduct TDS?How do I avoid tax on cryptocurrency in India?How can Koinly help with my crypto taxes in India?
Add Comment